Equitas Small Finance Bank sets the IPO price band at Rs 32-33/share

Equitas Small Finance Bank has fixed IPO price band of Rs 32-33 per share. Equitas has announced that the launch of the initial public offer (IPO) will be on 20th October this year.

Equitas Small Finance Bank has fixed IPO price band of Rs 32-33 per share. Equitas has announced that the launch of the initial public offer (IPO) will be on 20th October this year. Equitas put the offer on hold because of the COVID-19 which adversely affected the economy, the launch was expected by the end of March 2020.

ESFB has a provision for its employees that the shares worth Rs 1 crore are reserved for them while shares worth Rs 50 crore are reserved for Equitas Holdings shareholders. Therefore, shares worth Rs 51crore are reserved by the Equitas Small Finance Bank out of Rs 280 crore.

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Earlier the Equitas Small Finance Bank has said that “the size of the fresh issue has been reduced from up to Rs 5,500 million (Rs 550 crore) to up to Rs 2,800 million (Rs 280 crore) and the number of equity shares offered through the offer for sale by the company (EHL) has been reduced from up to 80,000,000 equity shares to up to 72,000,000 equity shares.” 

However, Equitas Small Finance Bank is having a large number of banking outlets thus considered as one of the largest small finance banks in India. It offers personalized services and helps to find the right product to suit individual banking requirements for their savings.